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Royal Bank Of Scotland Old Loan That I Feel Was Signed Up Without Correct Information
FlickaFlops
Posts: 1 Newbie
in Loans
I am going back to the 1990s here but I just wanted to see if anyone can help. As I still feel I was not treated fairly by RBS.
Sometime in the 1990 I took out a RBS loan, I don't think I took out insurance with it. Anyway after keeping up with repayments and having the repayments taken on the 28th which was the date I got paid each month. I decided to refinance my loan so I could access some cash that I needed. Again the loan repayments came out on the 28th each month and I kept up with them.
After some time I moved house and so I had cash to buy carpets and do my new home up a little, I again refinance my loan. I did this in branch and I was again accepted to refinance my loan. When putting the details in the banks computer, I asked if it would again be set so repayments where paid on the 28th. This would ensure the loan was always paid as my wage would be in the same day. I was told this was fine and watched her type into the pc the date in which to take the newly revised loan. Nothing came up to say this would be any kind of problem and all was well.
Until around the 15th of the following month, I went into a branch to draw out some cash that was under £10. This was not my branch but I was told I could not use my account at that time and advised to contact my branch, which I did, I drove straight down.
I was told they had froze my account because my 1st new loan repayment had not been paid due to insufficient funds. I explained that of course the money wasn't available, I didn't get paid until the 28th. I asked why the had tried to take the repayment before the 28th. They said because it was due on the 15th. I told them I had made a point of requesting the 28th because I knew that would be the only date the money would be available to pay it. I told them how I saw her type the date in and was told this would be fine. I also explained how if they looked back they would see the loan payments were always taken on the 28th even after I refinanced it. They lady who I was speaking to checked nothing and told me that when I set the loan up there is no way the lady dealing with it would have said yes to or put a repayment date in the computer as the loan would automatically be taken one moth from the date I refinanced. They took my cheque book and card and I was only allowed a cash card the drew fund at ATMS. it couldn't be use as a debit card cash card only.
I was furious with them. They din't listen to a word I said they messed my finances up completely and I Was left catching up for a while. In the end I opened a basic account which Santander as I hated banking with RBS after this incident.
I set up a repayment plan to gradually pay off my Rbs loan which I think was for around 10,000 in total at the end of it all. I am still paying this loan monthly via a debt collection company. I RBS for what happened, was there anything I should or could have done? I am not a liar and also I am not stupid I would never have knowing agreed to any payment being taken before the 28th as I knew I couldn't pay it. However RBS made me feel like I was both a liar and stupid.
None checked past payment dates, no one asked to speak to the lady who set up the loan. She was never at fault because she wouldn't have requested a date. Well she did, everyone makes mistakes so why was hers not looked into. I was treated to be the one at fault and dealt with as such. That loan has caused me no end of trouble and left me with a big debt that will take years to pay back. When they took my account and put it to cash only it had a knock on effect to other things, I was left with a right mess.
Has anyone had a similar problem? Did the Rbs act unreasonable as it was there staff member at fault. I dont think I had the documents at the time to check what the payment date was stated as. Or because I had seen her type in the date I didn't really check it before I signed the agreement.
:T At last all typed in phew. Good job I choose the short version...
Many thanks for reading
Sometime in the 1990 I took out a RBS loan, I don't think I took out insurance with it. Anyway after keeping up with repayments and having the repayments taken on the 28th which was the date I got paid each month. I decided to refinance my loan so I could access some cash that I needed. Again the loan repayments came out on the 28th each month and I kept up with them.
After some time I moved house and so I had cash to buy carpets and do my new home up a little, I again refinance my loan. I did this in branch and I was again accepted to refinance my loan. When putting the details in the banks computer, I asked if it would again be set so repayments where paid on the 28th. This would ensure the loan was always paid as my wage would be in the same day. I was told this was fine and watched her type into the pc the date in which to take the newly revised loan. Nothing came up to say this would be any kind of problem and all was well.
Until around the 15th of the following month, I went into a branch to draw out some cash that was under £10. This was not my branch but I was told I could not use my account at that time and advised to contact my branch, which I did, I drove straight down.
I was told they had froze my account because my 1st new loan repayment had not been paid due to insufficient funds. I explained that of course the money wasn't available, I didn't get paid until the 28th. I asked why the had tried to take the repayment before the 28th. They said because it was due on the 15th. I told them I had made a point of requesting the 28th because I knew that would be the only date the money would be available to pay it. I told them how I saw her type the date in and was told this would be fine. I also explained how if they looked back they would see the loan payments were always taken on the 28th even after I refinanced it. They lady who I was speaking to checked nothing and told me that when I set the loan up there is no way the lady dealing with it would have said yes to or put a repayment date in the computer as the loan would automatically be taken one moth from the date I refinanced. They took my cheque book and card and I was only allowed a cash card the drew fund at ATMS. it couldn't be use as a debit card cash card only.
I was furious with them. They din't listen to a word I said they messed my finances up completely and I Was left catching up for a while. In the end I opened a basic account which Santander as I hated banking with RBS after this incident.
I set up a repayment plan to gradually pay off my Rbs loan which I think was for around 10,000 in total at the end of it all. I am still paying this loan monthly via a debt collection company. I RBS for what happened, was there anything I should or could have done? I am not a liar and also I am not stupid I would never have knowing agreed to any payment being taken before the 28th as I knew I couldn't pay it. However RBS made me feel like I was both a liar and stupid.
None checked past payment dates, no one asked to speak to the lady who set up the loan. She was never at fault because she wouldn't have requested a date. Well she did, everyone makes mistakes so why was hers not looked into. I was treated to be the one at fault and dealt with as such. That loan has caused me no end of trouble and left me with a big debt that will take years to pay back. When they took my account and put it to cash only it had a knock on effect to other things, I was left with a right mess.
Has anyone had a similar problem? Did the Rbs act unreasonable as it was there staff member at fault. I dont think I had the documents at the time to check what the payment date was stated as. Or because I had seen her type in the date I didn't really check it before I signed the agreement.
:T At last all typed in phew. Good job I choose the short version...
Many thanks for reading
0
Comments
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Previous payment date isn't really relevant here, what matters is what you agreed to. Do you have a copy of the paperwork you signed? Did you read it before you signed it?0
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The payment date would have been on the loan document you signed.
Sorry but I think the fault is yours for not checking. Also, in any event, you were due to pay 13 days later. The charges wouldn't have been that much so what happened to that payment?
You could have complained at the time and potentially get the charge waived.0 -
There seems to be a missing part of the story here. We've gone from a payment date being 13 days earlier than expected, to having to set up a repayment plan lasting decades.0
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I read it differently. If the OP refinanced on the 15th then the first payment was due on the 15th of the following month, some 15-18 days later than it would have been had they not re-financed the loan.Deleted_User wrote: »There seems to be a missing part of the story here. We've gone from a payment date being 13 days earlier than expected, to having to set up a repayment plan lasting decades.
Therefore the wages paid on the 28th of the month were (or should have been) available for the 15th of the following month.0 -
Either way, there's no way that this situation - which would have after all resulted in one affected payment only - would have snowballed into paying the loan back via a debt management company. There's a huge chunk of info missing from the OP.YorkshireBoy wrote: »I read it differently. If the OP refinanced on the 15th then the first payment was due on the 15th of the following month, some 15-18 days later than it would have been had they not re-financed the loan.
Therefore the wages paid on the 28th of the month were (or should have been) available for the 15th of the following month."Facism arrives as your friend. It will restore your honour, make you feel proud, protect your house, give you a job, clean up the neighbourhood, remind you of how great you once were, clear out the venal and the corrupt, remove anything you feel is unlike you... [it] doesn't walk in saying, "our programme means militias, mass imprisonments, transportations, war and persecution."0 -
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Crikey, a lot happens in 20 years.0
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